California Public Employees Retirement System Buys 8,012 Shares of Onto Innovation Inc. (NYSE:ONTO)

Posted by Defense World Staff on May 18th, 2023

California Public Employees Retirement System raised its stake in shares of Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,711 shares of the semiconductor company’s stock after acquiring an additional 8,012 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Onto Innovation worth $5,904,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ONTO. JPMorgan Chase & Co. boosted its position in Onto Innovation by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 84,116 shares of the semiconductor company’s stock valued at $7,310,000 after acquiring an additional 5,850 shares in the last quarter. Citigroup Inc. boosted its position in shares of Onto Innovation by 5.4% in the 1st quarter. Citigroup Inc. now owns 52,277 shares of the semiconductor company’s stock worth $4,543,000 after purchasing an additional 2,697 shares in the last quarter. AlphaCrest Capital Management LLC boosted its position in shares of Onto Innovation by 88.7% in the 1st quarter. AlphaCrest Capital Management LLC now owns 3,963 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 1,863 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Onto Innovation by 23.3% in the 1st quarter. Bank of Montreal Can now owns 15,977 shares of the semiconductor company’s stock worth $1,392,000 after purchasing an additional 3,015 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Onto Innovation by 55.5% in the 1st quarter. MetLife Investment Management LLC now owns 26,215 shares of the semiconductor company’s stock worth $2,278,000 after purchasing an additional 9,352 shares in the last quarter. Institutional investors own 93.59% of the company’s stock.

Onto Innovation Stock Up 2.4 %

Shares of Onto Innovation stock opened at $97.95 on Thursday. The firm has a market cap of $4.79 billion, a PE ratio of 24.43 and a beta of 1.46. The business has a 50-day moving average price of $84.47 and a 200 day moving average price of $79.77. Onto Innovation Inc. has a twelve month low of $56.02 and a twelve month high of $99.13.

Onto Innovation (NYSE:ONTO – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. Onto Innovation had a return on equity of 16.09% and a net margin of 20.67%. The business had revenue of $199.17 million during the quarter, compared to analysts’ expectations of $200.00 million. During the same period in the previous year, the business earned $1.31 earnings per share. The business’s revenue was down 17.5% compared to the same quarter last year. On average, sell-side analysts expect that Onto Innovation Inc. will post 3.65 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Needham & Company LLC raised their price objective on Onto Innovation from $75.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. Jefferies Financial Group assumed coverage on Onto Innovation in a research note on Thursday, April 20th. They issued a “buy” rating and a $100.00 target price for the company. StockNews.com started coverage on Onto Innovation in a research note on Thursday. They issued a “hold” rating for the company. B. Riley lifted their price objective on Onto Innovation from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 10th. Finally, DA Davidson lifted their price objective on Onto Innovation from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, February 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.80.

Insiders Place Their Bets

In other Onto Innovation news, SVP Robert Fiordalice sold 669 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $93.15, for a total transaction of $62,317.35. Following the completion of the transaction, the senior vice president now directly owns 15,920 shares in the company, valued at $1,482,948. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.81% of the stock is currently owned by company insiders.

Onto Innovation Profile

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Onto Innovation, Inc engages in designing, developing and manufacturing process control systems. It offers process control, combining global scale with an expanded portfolio of technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.

Institutional Ownership by Quarter for Onto Innovation (NYSE:ONTO)

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